Benchmarks trade near the flat line; Europe opens in the green

The benchmark indices traded near the flat line in afternoon trade. The Nifty traded below the 23,950 mark. IT, FMCG and metals shares declined while banks, realty and financial stocks managed to trade in the green.

At 13:31 IST, the barometer index, the S&P BSE Sensex was up 62.64 points or 0.08% to 76,632.99. The Nifty 50 index added 1.45 points or 0.01% to 23,915.90.

In the broader market, the BSE 150 MidCap Index added 0.24% and the BSE 250 SmallCap Index rose 0.94%.

The market breadth was positive. On the BSE, 2,504 shares rose and 1,655 shares fell. A total of 261 shares were unchanged.

Economy:

The Reserve Bank of India (RBI) on Wednesday said forex inflows under its special USD-INR forex swap facility stood at $136.38 billion as of 31 August 2026, according to provisional data reported by authorised dealer banks.

The inflows included $127.23 billion through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits, while overseas foreign currency borrowings (OFCBs) contributed $5.26 billion and external commercial borrowings (ECBs) accounted for $3.89 billion.

Gainers & Losers:

Adani Ports (up 2.09%), Axis Bank (up 1.63%), ICICI Bank (up 1.06%), HDFC Bank (up 0.94%) and Bharat Electronics (up 0.70%) were the top gainers.

Titan Company (down 1.60%), Bajaj Auto (down 1.34%), Tech Mahindra (down 1.16%), Cipla (down 1.12%) and Bajaj Finance (down 1.11%) were the top losers.

Stocks in Spotlight:

XTGlobal Infotech zoomed 6.42%. The company announced its selection as a qualified technology partner under a multi-year cloud engineering and technical services program for a U.S. State Government technology authority. The agreement carries an initial two-year term with three additional one-year renewal options, creating a potential five-year contracting framework.

Based on the breadth of services contemplated under the program and its multi-year structure, XTGlobal estimates the aggregate addressable opportunity across the qualified vendor pool could be in the range of USD $50 million to $100 million over the potential five-year period.

RBL Bank jumped 5.16%. The bank announced that its board will meet on Monday, 7 September 2026, to consider establishing a Euro Medium Term Note (EMTN) Programme.

Balu Forge Industries fell 2.48%. The company has announced the successful acquisition of a ring rolling production line capable of producing forged rings up to 6.7 meters in outer diameter (OD). This acquisition adds 18,000 tons of specialized heavy ring rolling capacity with a high-value-addition product line. The ring rolling production line will commence the production trial before the end of 2026.

Housing & Urban Development Corporation added 1.91%. The company announced that it has signed a memorandum of understanding (MoU) with the Government of Bihar for providing financial assistance for proposed industrial parks. As per the MoU, HUDCO would provide financial assistance to the extent of Rs 25,000 crore over a period of five years for development of industrial infrastructure including acquisition of land for the projects.

Global Markets:

Markets in Europe and Asia rose on Thursday, tracking gains on Wall Street, as easing concerns over a prolonged US-Iran conflict helped lift risk appetite.

Brent crude eased after rising more than 8% over the previous three sessions, as US President Donald Trump indicated that renewed attacks on Iran were unlikely to continue for long. The easing in oil prices also helped global bond markets stabilise, with US Treasury yields retreating from recent multi-year highs. Investors, however, remain focused on the conflict and its impact on energy supplies.

Wall Street rebounded on Wednesday, with the Dow Jones Industrial Average rising 295.01 points, or 0.56%, to 53,061.89, while the S&P 500 gained 35.16 points, or 0.46%, to 7,666.63. The Nasdaq Composite advanced 118.05 points, or 0.45%, to 26,217.83. The recovery was supported by buying in technology and other recently weak stocks, although oil prices remained elevated amid the ongoing conflict.

The market focus has also shifted to US labour-market data. Private-sector hiring increased at a slower pace in August, while traders are watching Friday's nonfarm payrolls report for confirmation of whether labour-market weakness could influence the Fed's interest-rate decision. Markets are currently pricing roughly a 66% probability of a 25-basis-point rate hike in September.

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